Rate of auto loan interest

Dear Nitesh,

Please Note, 90530 * 35 Months = Rs.31,68,550/-.

Histroical Cost of Vehicle is Rs. =Rs.27,00,000/-.

Less: ( Rs.31,68,550 - Rs.27,00,000 = Rs.4,68,550/-.

Find the ROI = 468550/270000*100= 17.35 PA (Rate of Interest is 17.35 P.A)

wrong hai dear... i asked about equi monthly instalments and not equi annual instalments

Hai,

Divide the whole interest amount of Rs.468550 / 35 months = Rs.13,387/-. This your Interest Per month.

Principle amount  = 27,00,000/-

Period  = 3 year (35 month)

Formula is  = Principle amount * Interest * Number of Year = 468550

so, 27,00,000*X/100*3 = 468550

X = 468550*100/2700,000*3 = 5.78%

SO, INTEREST IS = 5.78%